Answer:
Step-by-step explanation:
Given:
Waiting time = 5 hours.
We need to find the number of minutes for 5 hours.
Solution:
We know that 60 minutes for each hour, so one hour is equal to 60 minutes.
For one hour =
For five hours =
Therefore, you will have to wait 300 minutes in a line.
Answer:
0.4
Step-by-step explanation:
Given:-
- The uniform distribution parameters are as follows:
a = $10,000 b = $15,000
Find:-
Suppose you bid $12,000. What is the probability that your bid will be accepted?
Solution:-
- We will denote a random variable X that defines the bid placed being accepted. The variable X follows a uniform distribution with parameters [a,b].
X ~ U(10,000 , 15,000)
- The probability of $12,000 bid being accepted can be determined by the cdf function of the uniform distribution, while the pmf is as follows:
Pmf = 1 / ( b - a )
Pmf = 1 / ( 15,000 - 10,000 )
Pmf = 1 / ( 5,000 )